The local market fell 0.1 per cent on Tuesday under the pressure of a weaker energy sector, down 0.9 per cent, after OPEC+ cut their expectations for oil demand in 2023 and beyond; shares in Beach Energy (ASX: BPT) fell 2.8 per cent. It was a similar story for the lithium sector, with broader commodities falling 1 per cent…
The local market finished slightly lower, down 0.2 per cent, as a jump in commodities, particularly iron ore, offset losses across every other sector. The materials sector gained 3.4 per cent along with energy, after the oil price moved about US$90 per barrel once again. Iron ore was the highlight with Champion (ASX:CIA) gaining 12 per cent, Fortescue (ASX:FMG)…
The local market rode the US inflation data wave, gaining 2.8 per cent on Friday, buoyed by the hope that interest rate hikes may be set to ease. Every sector finished higher outside of utilities, as Origin Energy (ASX:ORG) reversed 3.2 per cent as investors digest the recent takeover offer; the company was still up…
The local market weakened as crypto turbulence spread into global equity markets, with the S&P/ASX200 falling 0.5 per cent. Half of the markets sectors were lower, led by energy and technology, down 2.1 and 1.9 per cent respectively. The standout was utilities, which gained 13 per cent on the back of a massive takeover bid…
The local market was buoyed by an unexpected surge in the price of gold, which moved beyond US$1,700 per ounce once again. The result was a 2.5 per cent gain in the materials sector offsetting losses in eight of the remaining sectors with St Barbara (ASX:SBM) and Regis (ASX:RRL) the highlights, up 13 and 12.7…
The S&P/ASX200 gained another 0.4 per cent on Tuesday with a broad-based rally managing to overcome a selloff in the energy sector. The staples and utilities sectors were strongest gaining 1.3 and 1.4 per cent, with healthcare and financials not far behind. Energy, however, fell by more than 2.3 per cent on a weaker oil price and…
The local bourse managed a positive start to the week, with signs of an improving economic outlook in China boosting the commodities sector. Materials gained 3.4 per cent behind 5 per cent rallies in BHP (ASX:BHP) and Fortescue (ASX:FMG), supporting a 0.6 per cent improvement in the S&P/ASX200. Energy also rallied 1.4 per cent despite…
The local sharemarket capped another positive week, closing 0.5 per cent higher on Friday on the back of a surge in the oil price. The energy sector gained 3.4 per cent behind a jump in Woodside (ASX:WDS) and Santos (ASX:STO), while another five sectors were down lead by healthcare, which fell 0.8 per cent. The…
Shares in Woolworths(ASX:WOW) neared a one year low, falling 3.5 per cent, after the company delivered another quarterly update. While the headline numbers were solid, with sales up 1.8 per cent to $16.36 billion, concern was raised about the impact of food price inflation of 7.3 per cent in Australia, and whether this will impact…
The local market managed a small gain on Wednesday, adding 0.1 per cent, as strength in the energy and materials sectors, up 1.1 per cent each, offset losses in property and technology. Among the standouts were a rally in fund manager Perpetual (ASX:PPT), which gained 5.5 per cent, and Rio Tinto (ASX:RIO) which finished 2.4 per cent higher. Amcor…
